Comrade Appliances IPO description – Incorporated in 2017, Comrade Appliances is engaged in the process of manufacturing an extensive array of Air Coolers and Electric Geysers. It manufactures consumer durable goods and assembles a wide array of products and provides end-to-end product solutions.
Comrade Appliances operates under Original Equipment Manufacturer (OEM) and Original Design Manufacturer (ODM) business models. Under the OEM model, it manufactures and supplies products basis designs developed by their customers, later these products are sold under the customer’s brand name. Under the ODM model, along with manufacturing, Comrade Appliances also conceptualizes and designs the products which are then marketed to the customers’ prospective customers under their brands.
The company has a moulding unit setup with 8 moulding machines- 3 of 100 tons, 1 of 170 tons, 1 of 280 tons, 1 of 350 tons, 1 of 450 tons, and 1 of 775 tons. The company’s product portfolio of consumer goods includes:
- Air Coolers: Tower Series, Personal Series
- Electric Geysers
Promoters of Comrade Appliances – M/S Troupe Technologies Private Limited, Mr. Khursheed Alam and Mr. Mehboob Alam
Table of Contents
Comrade Appliances IPO Details
| Comrade Appliances IPO Dates | 31 May – 5 Jun 2023 |
| Comrade Appliances IPO Price | INR 52 – 54 per share |
| Fresh issue | 22,78,000 shares (INR 11.85 – 12.30 crore) |
| Offer For Sale | NIL |
| Total IPO size | 22,78,000 shares (INR 11.85 – 12.30 crore) |
| Minimum bid (lot size) | 2,000 shares (INR 108,000) |
| Face Value | INR 10 per share |
| Retail Allocation | 35% |
| Listing On | BSE SME |
Comrade Appliances Financial Performance
| Â | FY 2021 | FY 2022 | FY 2023 |
| Revenue | 2,600.49 | 2,964.89 | 2,696.14 |
| Expenses | 2,575.37 | 2,918.99 | 2,477.41 |
| Net income | 20.21 | 38.75 | 163.57 |
Comrade Appliances Offer News
- Comrade Appliances RHP
- Comrade Appliances Draft Prospectus
- ASBA IPO Forms
- Live IPO Subscription Status
- IPO Allotment Status
Comrade Appliances Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | 0.61 | 0.99 | 3.15 |
| PE ratio | – | – | 16.51 – 17.14 |
| RONW (%) | 8.36 | 7.72 | 23.73 |
| NAV | 7.27 | 12.78 | 13.28 |
| ROCE (%) | 7.00 | 12.00 | 16.00 |
| EBITDA (%) | 7.35 | 18.88 | 16.67 |
| Debt/Equity | 5.84 | 2.22 | 1.96 |
Comrade Appliances IPO GMP Today
| Date | Consolidated IPO GMP | Kostak | Subject to Sauda |
| 12 June 2023 | 18 | – | 20,000 |
| 9 June 2023 | 15 | – | 20,000 |
| 8 June 2023 | 17 | – | 18,000 |
| 7 June 2023 | 17 | – | 18,000 |
| 6 June 2023 | 11 | – | 13,000 |
| 5 June 2023 | 11 | – | 13,000 |
| 2 June 2023 | 11 | – | 13,000 |
| 1 June 2023 | 9 | – | 12,000 |
| 31 May 2023 | 9 | – | 12,000 |
Comrade Appliances IPO Subscription – Live Updates
| Category | QIB | NII | Retail | Total |
| Shares Offered | 432,000 | 440,000 | 758,000 | 1,630,000 |
| 5 Jun 2023 | 21.86 | 120.78 | 72.08 | 71.92 |
| 2 Jun 2023 | 0.01 | 2.68 | 9.42 | 5.11 |
| 1 Jun 2023 | 0.00 | 0.84 | 3.28 | 1.75 |
| 31 May 2023 | 0.00 | 0.34 | 0.90 | 0.51 |
Comrade Appliances Offer Lead Manager
GRETEX CORPORATE SERVICES LIMITED
Office No. 13, 1st Floor,
New Bansilal Building, Raja Bahadur Mansion,
9-15, Homi Modi Street, Fort, Mumbai– 400001
Phone: +91 96532 49863
Email:Â [email protected]
Website:Â www.gretexcorporate.com
Comrade Appliances Offer Registrar
BIGSHARE SERVICES PRIVATE LIMITED
S6-2, 6th Floor,
Pinnacle Business Park,
Next to Ahura Centre, Mahakali
Caves Road, Andheri East,
Mumbai – 400 093
Phone:Â +91 22 6263 8200
Email:Â Â [email protected]
Website:Â www.bigshareonline.com
Comrade Appliances IPO Contact Details
COMRADE APPLIANCES LIMITED
Shop No. 39, Ground Level I,
Dewan Centre, 183-186, S.V. Road,
Jogeshwari West, Mumbai – 400102
Phone: 022-66959545
E-mail: [email protected]
Website: www.comrade.net.in
Comrade Appliances IPO Allotment Status
Comrade Appliances IPO allotment status is now available on Bigshare Services’ website. Click on Bigshare Services weblink to get allotment status.
Comrade Appliances IPO Dates & Listing Performance
| IPO Opening Date | 31 May 2023 |
| IPO Closing Date | 5 June 2023 |
| Finalization of Basis of Allotment | 8 June 2023 |
| Initiation of refunds | 9 June 2023 |
| Transfer of shares to demat accounts | 12 June 2023 |
| IPO Listing Date | 13 June 2023 |
| Opening Price on BSE SME | INR 87 per share (up 61.11%) |
| Closing Price on BSE SME | INR 91.35 per share (up 69.17%) |
IPO FAQs
What is the Comrade Appliances offer size?
Comrade Appliances’ offer size is INR 11.85 – 12.30 crores.
What is the Comrade Appliances offer price band?
Comrade Appliances’ public offer price is INR 52 – 54 per share.
What is the lot size of the Comrade Appliances IPO?
Comrade Appliances offer lot size is 2,000 shares.
What is Comrade IPO GMP today?
Comrade Appliances IPO GMP today is INR 18 per share.
What is the Comrade kostak rate today?
Comrade Appliances kostak rate today is NA per application.
What is Comrade Subject to Sauda rate today?
Comrade Appliances Subject to Sauda rate today is INR 20,000 per application.
